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Notable macro data points, news items, and price action pertaining to the restaurant space.
University of Michigan Confidence came in at 57.8 for September versus expectations of 57.
National restaurant chain companies have ethanol tax subsidies in their crosshairs as they push lawmakers to end the Volumetric Ethanol Excise Tax Credit as a means to help reduce the country’s debt, according to thehill.com.
Food processor stocks have been performing strongly over the last two weeks, outperforming peer subsectors on a one-day, one-week, and two-week duration. Food retail stocks underperformed .
WEN CEO Brolick appeared on CNBC this morning, showcasing the new burger and discussing the company’s prospects. He underscored growth outside North America as a goal for the company. Brolick sees same-store sales up 1-3% this
SBUX CEO Howard Schultz, speaking in Madrid, said that Brazil is a “big opportunity” for the company and also sees more stores in Western Europe over the long-term.
YUM is the best company to work for in China, according to Fortune magazine.
KONA, BWLD, and CHUX gained on accelerating volume Friday.